March 19 (Reuters) - Facebook co-founder Eduardo
Saverin's global investment firm B Capital on Tuesday announced
the close of its second Opportunities Fund, with total
fundraising of $750 million as it bets on late-stage startups.
The fund will mainly be used to identify investment
opportunities in existing portfolio companies in sectors like
technology, healthcare and climate tech, B Capital said in a
statement.
The fund is nearly double the size of its predecessor, it
added.
The fund received strong participation from both existing
and new investors, said B Capital, which has in the past backed
Indian startups like Think & Learn's Byju's, Meesho
and Pharmeasy.
"In this challenging environment for many private tech
companies, we are pleased to have nearly doubled the capital we
have available to back the best founders in the B Capital
portfolio and other entrepreneurs we have closely followed,"
said Saverin, the co-founder and co-CEO of B Capital.
B Capital was founded in 2015 and has more than $6 billion
in assets under managements across various funds, according to
its website.
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Varun
H K)